Depositing and withdraw of amount in saving Bank acc

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2 Points Posted on 07 February 2022

Hi 

We need to pay 40 lakhs fee to a medical collage.

We got money from transfers from relatives and one gold loan worth 7 lakhs. We paid via transfer to the collage. Our relatives deposited 5 lakhs and made transfers for fee purpose. Will we or our relatives will get any notices. 

Thanks for your Answer

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On 07 February 2022 at 14:42 Report
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SEO Sai Gr. Hosp.
212137 Points Posted on 07 February 2022

If routine payment, you may to be queried; but otherwise you may be asked for sources of fund..

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On 07 February 2022 at 14:54
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Profession Business
28244 Points Posted on 07 February 2022
No notice
Medical college must issue a valid certificate.
it's a donation cum fee.
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On 07 February 2022 at 18:24
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CFO- at NHTF
58280 Points Posted on 08 February 2022
This happens especially for higher studies.

You can make note of all money received details with dates & source also .

Since it is a big transaction , there is a possibility for show cause notice (SCN). But can be managed easily since the evidence is available.
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On 08 February 2022 at 07:48
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Profession Business
28244 Points Posted on 08 February 2022
No such show cause notice.
Notice to be served to the medical college.
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On 08 February 2022 at 11:07

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